TheMidwestMonger
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Simple English definitions for legal terms
ship broker
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A quick definition of ship broker:
A ship broker is someone who helps connect people who own or rent ships with people who need to use them to transport goods. They can also help with buying and selling ships.
A more thorough explanation:
A ship broker is a person who acts as an intermediary between a shipowner or charterer and a shipper. They are responsible for negotiating the purchase and sale of a ship.
- A ship broker may be hired by a shipowner to find a suitable charterer for their vessel.
- A ship broker may be hired by a charterer to find a suitable vessel for their cargo.
- A ship broker may negotiate the terms of a charter party agreement between the shipowner and charterer.
These examples illustrate how a ship broker acts as a middleman between the parties involved in the shipping industry. They use their knowledge and expertise to facilitate the transaction and ensure that both parties are satisfied with the outcome.